Sat. Feb 24th, 2024

Rivian electrical pickup vans sit in a parking zone at a Rivian service middle on Could 09, 2022 in South San Francisco, California. 

Justin Sullivan | Getty Pictures

Rivian on Monday began leasing choose fashions of its all-electric R1T pickup truck, a transfer to broaden gross sales and buyer base past early adopters of electrical automobiles.

The corporate stated this system is accessible to clients in choose states equivalent to California, New York, Florida and Texas – already common markets for EVs.

Based mostly on the corporate’s web site, eligibility is predicated on zip code, largely for higher-end fashions of the car that may price greater than $90,000.

Representatives for Rivian didn’t instantly reply to request for added particulars.

Leasing has grow to be a well-liked means for patrons to check out an electrical car with none long-term dedication. Doing so additionally qualifies a purchaser for a full $7,500 federal tax credit score underneath the Inflation Discount Act, in comparison with the $3,750 that purchasers of Rivian fashions presently qualify for.

Leasing is categorized as industrial enterprise underneath the IRA and subsequently exempt from rules that require the car and battery elements to be made in North America. Most EVs on the market in the present day don’t qualify for the complete tax credit score due to the place the automobiles or elements are constructed.

“Immediately, Rivian launched a brand new means for patrons to get behind the wheel of a Rivian with the introduction of leasing,” the corporate stated in an emailed assertion. “Rivian’s leasing program presents the journey of proudly owning a Rivian with extra flexibility.”

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